# 31 CFR § 576.701: Penalties

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-31-576.701

## Section

- **Citation:** 31 CFR § 576.701
- **Heading:** Penalties
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY > PART 576—IRAQ STABILIZATION AND INSURGENCY SANCTIONS REGULATIONS > Subpart G—Penalties

## Text

(a) Attention is directed to section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) (“IEEPA”), which is applicable to violations of the provisions of any license, ruling, regulation, order, directive, or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under IEEPA.
(1) A civil penalty not to exceed the amount set forth in section 206 of IEEPA may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, or regulation issued under IEEPA.
(2) The applicable maximum civil penalty per violation of IEEPA is the greater of $377,700 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(3) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition may, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in IEEPA are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in IEEPA are subject to adjustment pursuant to 18 U.S.C. 3571.
(c) Attention is also directed to 18 U.S.C. 1001, which provides that whoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully falsifies, conceals, or covers up by any trick, scheme, or device a material fact; makes any materially false, fictitious, or fraudulent statement or representation; or makes or uses any false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry shall be fined under title 18, United States Code, imprisoned, or both.
(d) Violations of this part may also be subject to relevant provisions of other applicable laws.
[75 FR 55466, Sept. 13, 2010, as amended at 81 FR 43076, July 1, 2016; 82 FR 10438, Feb. 10, 2017; 83 FR 11880, Mar. 19, 2018; 84 FR 27718, June 14, 2019; 85 FR 19888, Apr. 9, 2020; 86 FR 14538, Mar. 17, 2021; 87 FR 7373, Feb. 9, 2022; 88 FR 2233, Jan. 13, 2023; 89 FR 2143, Jan. 12, 2024; 90 FR 3692, Jan. 15, 2025]

## Nearby sections

- [31 CFR § 576.101 § 576.101 Relation of this part to other laws and regulations.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.101.md)
- [31 CFR § 576.201 § 576.201 Prohibited transactions involving blocked property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.201.md)
- [31 CFR § 576.202 § 576.202 Effect of transfers violating the provisions of this part.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.202.md)
- [31 CFR § 576.203 § 576.203 Holding of funds in interest-bearing accounts; investment and reinvestment.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.203.md)
- [31 CFR § 576.204 § 576.204 Expenses of maintaining blocked physical property; liquidation of blocked property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.204.md)
- [31 CFR § 576.205 § 576.205 Evasions; attempts; conspiracies.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.205.md)
- [31 CFR § 576.207 § 576.207 Exemption for property controlled by the military forces of the United States and their coalition partners in Iraq.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.207.md)
- [31 CFR § 576.208 § 576.208 Prohibited transactions related to certain Iraqi cultural property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.208.md)
- [31 CFR § 576.209 § 576.209 Exempt transactions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.209.md)
- [31 CFR § 576.301 § 576.301 Blocked account; blocked property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.301.md)
- [31 CFR § 576.302 § 576.302 Development Fund for Iraq.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.302.md)
- [31 CFR § 576.303 § 576.303 Effective date.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.303.md)
- [31 CFR § 576.304 § 576.304 Entity.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.304.md)
- [31 CFR § 576.305 § 576.305 Former Iraqi regime.](https://www.frixlaw.com/law-library/statutes/ecfr-31-576.305.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-31-576.701. Check the current official text before relying on it. Not legal advice.